PUTRAJAYA – Malaysia, with its active involvement in the World Trade Organisation (WTO), can be the main contributor to the WTO’s agenda in terms of economic growth and development, said WTO director-general Ngozi Okonko-Iweala.
Iweala conveyed this to Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi during their meeting in Geneva, Switzerland today.
In a statement issued in conjunction with the meeting, Nanta said Iweala also congratulated Malaysia for its relatively intact and robust economic performance.
“The meeting was beneficial and useful as we also touched on various issues related to WTO’s contribution to Malaysia’s economic growth and development,” he said.
On world hunger, which has reached a critical juncture due to the pandemic and the rising food insecurity the world is facing, Nanta said Malaysia welcomed WTO initiatives to ensure a sufficient supply of essential items and that they were being sold at reasonable prices.
“It is believed to be able to help countries like Malaysia in alleviating the financial burden of the people through distribution of subsidies for food items.
“Prices of goods will record a decline, with a good trade flow, and supported by a facilitating network, hence giving benefits to the people,” Nanta said.
The minister also said that the WTO initiative that suited Malaysia most was the initiative on e-commerce.
“This is because the pandemic has triggered a change in transactions by users. Therefore, this e-commerce initiative will definitely help Malaysia to regulate this sector accordingly, besides not hampering the growth of the industry,” he said. – Bernama, September 30, 2022
